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In a housing market where home prices remain near record highs, lower mortgage rates could provide some relief to prospective homebuyers. According to ABC News, the average rate on a 30-year mortgage has recently decreased to 6.35%, the lowest level in over a year. A year ago, the rate was at 7.18%. Similarly, the average rate for a 15-year fixed-rate mortgage, often favored by those looking to refinance, has fallen to 5.51%, compared with 6.55% a year ago.
New innovations in off-site building construction have increased our ability to address the housing deficit currently plaguing the United States and Canada. Yet for the past decade, precut framing packages, panelized structural components, and volumetric modular construction combined have represented just 3% or less of new-home completions, according to U.S.
Construction firms that rely on fixed budgets and outdated procurement methods are losing ground fast. This guide reveals how market leaders are managing financial risk by shifting to incremental budgeting, regional sourcing, and real-time cost tracking. Learn how to structure contracts with price protections, streamline procurement workflows with automation, and avoid labor cost increases with smarter workforce planning.
As housing becomes more expensive, the amount homebuyers need to earn to afford to purchase a home also grows. According to housing market platform Redfin, homebuyers need to earn approximately $80,000 per year to afford the median-priced starter home, up 4.4% from last summer and only about $500 below the all-time high. That makes starter homes just barely affordable to families earning the median U.S. income, and unaffordable to families earning less than the median income.
Rhode Island installs traffic and structural health monitoring system to proactively maintain vital bridge The Rhode Island Department of Transportation (RIDOT) is partnering with Kistler, the global leader in dynamic measurement technology, to provide state-of-the-art technology solutions to monitor and protect the structural health of the Washington Bridge, a vital bridge in the city of Providence.
Discover how AI-powered design review tools are revolutionizing the costly and time-consuming RFI process in construction, delivering unprecedented efficiency, clarity and collaboration for project teams.
PEARLAND, Texas — The City of Pearland broke ground on the expansion of the Barry Rose Water Reclamation Facility (WRF) Replacement and Expansion project, which will increase the plant’s wastewater treatment capacity from 3.1 million gallons per day (MGD) to 5.0 MGD to better address the community’s growing needs. The $216.7 million construction project expands and updates the 50-year-old Barry Rose Water Reclamation Facility’s infrastructure while also decommissioning the neighboring Longwood W
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
SEATTLE, WA – STV, a leading professional services firm that plans, designs and manages infrastructure projects across North America, joins Sound Transit in celebrating the opening of the Lynnwood Link Extension , an 8.5-mile light rail route extending from Northgate into Snohomish County. Opening to the public on Friday, August 30, 2024, this project includes four new stations, allowing riders to travel between south Snohomish County and downtown Seattle, Sea-Tac Airport and more.
Generative AI is already transforming how the construction industry operates. This concise guide walks you through its real-world impact on design, planning, job site logistics, and sustainability. Learn how contractors are using AI to reduce costs, improve worker safety, and shorten build times. Get a detailed look at the tools and platforms making it possible, including AI-driven robotics and material optimization.
In a rapidly changing industrial landscape, ensuring workplace safety is more crucial than ever. The Safety Leadership Conference 2024, which lasted from August 26-28 , was a transformative event for safety professionals across various sectors including manufacturing, construction, distribution, transportation, and utilities. This Safety Leadership conference is designed to equip safety leaders with the necessary tools and insights to foster safer work environments – and every year they succeed
Register Now for the Builders’ Show and Get Special Pricing Image Credit Photo: Pro Builder ibush Tue, 09/03/2024 - 12:40 Take advantage of early registration by Sept. 30 and claim Your $75 IBS Expo Pass The International Builders' Show (IBS) is your chance to get the great ideas and real solutions you need to grow and strengthen your business. Meet with the top companies in the industry.
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
As the construction industry grows and changes, so does the type of labor that is needed. According to the National Association of Home Builders’ Eye On Housing blog, the makeup of the construction labor force over the last two decades has shifted to encompass more computer, engineering and science roles. From 2005 to 2022, the share of tradesmen declined from 71% to about 61%.
Transport secretary Louise Haigh has today, 3 September, launched “Shadow” Great British Railways (Shadow GBR) as the first step in the long-awaited major overhaul of the UK’s rail network. The post ‘Shadow’ Great British Railways launched as railways public ownership Bill progresses appeared first on New Civil Engineer.
The future of construction is sustainable, efficient, and cost-conscious. This guide offers a practical roadmap for reducing material waste, optimizing energy use, and integrating sustainable design principles. Discover how innovative construction firms are leveraging circular economy strategies, digital tracking, and energy-smart building solutions to reduce expenses and stay ahead of regulatory shifts.
Heavy lifting company Mammoet has announced the release of the world’s strongest land-based crane, which carries a loading capacity of 6,000t and can be run on full electric power. The post World’s strongest land-based crane with 6,000t capacity launched appeared first on New Civil Engineer.
Image courtesy of the Queensland Government. The Federal and Queensland governments have developed a strategy to improve safety on the Kennedy Highway through a stretch known locally as Kuranda Range Road, with both governments also committing $262.5 million to the strategy. The strategy aims to reduce the amount and length of unplanned closures on the road.
A team of 10 PC women from the Vermont region recently participated in Habitat for Humanity’s annual Women Build Week. This annual campaign focuses on bringing women together to build stronger communities. Women and children are the most likely to be affected by poor living conditions, and events like Women Build provide the opportunity for women to serve their communities while expanding their construction skills.
High Speed 2 (HS2) and contractor Eiffage Kier Ferrovial Bam Nuttall JV (EKFB) have celebrated the first fully complete viaduct on the high speed rail project in Northamptonshire. The post HS2 | First viaduct complete and Kent precast factory makes last of 59,000 tunnel segments appeared first on New Civil Engineer.
Grow Leads & Visibility! Contractors need more than word-of-mouth. A strong website boosts visibility, draws in leads, showcases skills, and enhances your credibility. Learn how a quality site, that is easy to manage, can set you apart from the competition, and help can take your construction business to the next level. Marketpath is a leading provider of high-quality website solutions tailored for contractors and the construction industry.
The government has proposed subsidising the development of Sizewell C by up to £5.5bn. A new funding scheme will partly cover the costs of developing the £20bn nuclear megaproject until the government makes its final investment decision, which will allow construction to start. A Department… The post Government offers up to £5.5bn for Sizewell C development subsidy appeared first on Construction News.
The UK government has struck funding deals for 131 renewable energy projects including Europe’s largest windfarm and six tidal stream projects in the latest Contracts for Difference (CfD) auction. The post Europe’s largest windfarm and 6 tidal schemes among 131 projects progressed in renewable auction appeared first on New Civil Engineer.
IIT, Dharwad Recruitment 2024 for Jr Asst, Asst Registrar & Other | 29-09-2024 IIT, Dharwad Recruitment 2024 for Jr Asst, Asst Registrar & Other with 13 post vacancies, last date to apply is 29-09-2024 The post IIT, Dharwad Recruitment 2024 for Jr Asst, Asst Registrar & Other | 29-09-2024 appeared first on ConstructionPlacements.
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